October 17, 2018 / 9:16 PM / a month ago

Australia shares to start downbeat tracking Wall St, NZ inches higher

    Oct 18 (Reuters) - Australian shares were expected to edge
lower in the morning session on Thursday, as the U.S. Fed's
broad agreement on the need to raise borrowing costs further
threatened to reignite the fears that sparked last week's
sell-off.
    Wall Street's major indexes edged lower after a choppy
session on Wednesday after U.S. policymakers showed agreement on
the September hike and general anticipation of further gradual
increases.     
    Domestic energy shares         were likely to bear the brunt
of weakening global oil prices after U.S. crude stockpiles rose
while exports dropped.      
    The local share price index futures          slipped 0.4
percent, or 25 points, to 5,902, a 37.1-point discount to the
underlying S&P/ASX 200 index's         close. The benchmark rose
1.18 percent to 5939.10 on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         inched up
2.69 points to 8,914.48 in early trade.

 (Reporting by Devika Syamnath in Bengaluru; Editing by Tom
Brown)
  
 
 
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